FedEx Co. (NYSE:FDX – Get Free Report) EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
FedEx Price Performance
FDX stock opened at $298.74 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The company’s 50-day moving average is $258.10 and its 200-day moving average is $256.24. The stock has a market capitalization of $73.51 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.10 and a beta of 1.16. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $302.41.
FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter in the prior year, the company earned $4.94 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts expect that FedEx Co. will post 20.67 EPS for the current fiscal year.
FedEx Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.85%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is 32.04%.
Institutional Investors Weigh In On FedEx
A number of institutional investors and hedge funds have recently made changes to their positions in FDX. Lazari Capital Management Inc. purchased a new stake in shares of FedEx in the first quarter worth approximately $202,000. Keynote Financial Services LLC purchased a new stake in FedEx in the 1st quarter valued at $288,000. EverSource Wealth Advisors LLC lifted its stake in FedEx by 0.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 12,496 shares of the shipping service provider’s stock valued at $3,621,000 after acquiring an additional 45 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in FedEx by 45.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 148,573 shares of the shipping service provider’s stock worth $42,610,000 after acquiring an additional 46,244 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in shares of FedEx in the 1st quarter worth $89,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on FDX. Stephens reaffirmed an “overweight” rating and issued a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. Morgan Stanley lifted their target price on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. UBS Group decreased their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $314.00.
Check Out Our Latest Report on FDX
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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